Envestnet Asset Management Inc. Buys 705 Shares of AutoZone, Inc. (NYSE:AZO)

Envestnet Asset Management Inc. raised its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 66,721 shares of the company's stock after acquiring an additional 705 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.40% of AutoZone worth $254,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crew Capital Management Ltd. boosted its stake in AutoZone by 2.1% during the first quarter. Crew Capital Management Ltd. now owns 393 shares of the company's stock worth $1,498,000 after acquiring an additional 8 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its stake in AutoZone by 18.8% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 38 shares of the company's stock worth $145,000 after acquiring an additional 6 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of AutoZone by 11.7% in the first quarter. Concurrent Investment Advisors LLC now owns 238 shares of the company's stock valued at $907,000 after buying an additional 25 shares in the last quarter. HM Payson & Co. lifted its stake in shares of AutoZone by 0.9% in the first quarter. HM Payson & Co. now owns 23,129 shares of the company's stock valued at $88,184,000 after buying an additional 195 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of AutoZone by 19.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,607 shares of the company's stock valued at $6,127,000 after buying an additional 260 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman William C. Rhodes III sold 27,500 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the sale, the chairman owned 8,546 shares of the company's stock, valued at approximately $31,696,515.78. The trade was a 76.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Domingo Hurtado sold 4,800 shares of the business's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the sale, the vice president directly owned 159 shares in the company, valued at $581,940. This trade represents a 96.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,662 shares of company stock worth $131,999,089 in the last ninety days. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on AZO shares. DA Davidson raised their price objective on shares of AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Bank of America upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and increased their target price for the company from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. Guggenheim increased their target price on shares of AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Oppenheimer upgraded shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 target price for the company in a report on Friday, May 2nd. Finally, Roth Capital set a $4,135.00 target price on shares of AutoZone and gave the stock a "buy" rating in a research note on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $4,087.00.

AutoZone Stock Performance

Shares of AZO traded down $26.32 during trading hours on Friday, hitting $3,702.16. 105,635 shares of the stock were exchanged, compared to its average volume of 130,764. The stock's 50-day moving average price is $3,704.16 and its two-hundred day moving average price is $3,561.04. The company has a market cap of $62.12 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 2.22 and a beta of 0.39. AutoZone, Inc. has a 12-month low of $2,894.02 and a 12-month high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The business had revenue of $4.46 billion during the quarter, compared to analysts' expectations of $4.41 billion. During the same quarter in the previous year, the company posted $36.69 EPS. The company's revenue was up 5.4% compared to the same quarter last year. On average, research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.